Imagine returning home from what has been yet another exhausting day at the office, only to painfully realize that despite working your ass off all these years you couldn’t afford yourself a decent rented home. That feeling makes one sick to their stomach. But, sadly enough, that has been the case for most middle-income workers nationwide.
With sky-high rents these days, it has become increasingly difficult for the middle-income population to afford a decent rented home. Generally speaking, many developers of multi-family housing primarily focus on higher-margin luxury apartments. Because, obviously, that’s where the big money flows. Fair enough. However, this has left a formidable gap in the market for affordable housing options. Further complicating things is the increased costs associated with the development, construction, operation, and maintenance, which pose significant challenges for affordable housing initiatives.
One company that has risen to these challenges is One Stop Housing (OSH), a trailblazing for-profit organization dedicated to providing affordable workforce housing solutions tailored specifically for working families.
Enter OSH.
Affordable, safe, and clean Housing Community
One Stop Housing has addressed all these challenges with an innovative approach that amalgamates key aspects of the housing development process. The company has created a unique for-profit model that addresses the need to create clean, affordable, and safe workforce housing in even some of the most depressed areas. It has formed Private/Public Partnerships with multiple City, County, Foundations/Nonprofits, and Private companies to create communities specifically designed for working families that work in the immediate area.
At the heart of OSH’s innovative approach is its integrated group of closely held companies, including One Stop Housing Development & Construction (OSHDC). By consolidating and expanding on essential trades in-house, such as financing, design, construction, and property management, OSH achieves greater cost efficiencies and streamlines the entire development process. This all-encompassing approach allows OSH to deliver affordable housing solutions without compromising on quality. The in-house development team guides the projects through various stages, ensuring a seamless process that includes site plan approvals, rezoning, legal processes, and architectural design. “OSHDC’s substantial project volume enables successful outcomes through value engineering and strategic negotiations with approximately 800 units currently under development and another 1,200 units under contract,” says Mark Vengroff, Managing Partner at One Stop Housing. “The establishment of building out the key verticals throughout the entire process of development-design/build and manage have created economies of scale and operational efficiencies not found in other companies.”
Yet another factor that has helped OSH to provide affordable housing is its innovative choice of building material. OSHDC builds all products new/renovated with the same materials and products, allowing for ease of repair and lowering replacement costs down the road. Alongside, to provide each region with the ability to make repairs quickly and affordably, replacement parts of commonly replaced items are stored in local maintenance equipment warehouses. “OSH has proven to build and operate up to 20%-30% below market, creating substantial savings that provide the ability to keep rents low and affordable while still building attractive multifamily housing communities,” says Mark
And the company doesn’t just stop there. It continually keeps looking for ways to minimize the cost involved in building housing communities by continuing to work with the OSH Property Managers on design improvements and cost-saving ideas. “OSHDC is continuing to work closely with its engineers to create design modifications and implement new utility cost-saving strategies.,” says Mark.
One of the many factors that sets OSH properties apart from other typical public housing units is its for-profit model and commitment to empowering working families. Unlike income-restricted housing—wherein once an individual or family member’s income increases over the set limit, the family is forced to move and find alternative housing—OSH properties do not impose income limitations on residents, thereby fostering a sense of pride and responsibility among tenants.
By encouraging residents to take ownership of their homes, OSH creates communities where individuals are motivated to thrive. “We have found that working individuals and families that are able to pay the rent without subsidies take pride in their apartment and are better contributors to the community at large,” he says. Besides, since the company doesn’t mandate or require income restrictions on most of its 4,000+ owner/managed units, residents are incentivized to gain promotions and are able to save money to eventually purchase their own homes.
Moreover, OSH prioritizes safety, cleanliness, and affordability in its properties. With dedicated in-house security, maintenance, and management teams, OSH ensures that residents enjoy a clean, safe, and well-maintained living environment. In addition to the state-of-the-art security surveillance systems at the facility, each site has its own security detail and personnel dedicated to keeping properties safe 24/7.
To ensure top-notch service from the staff, ongoing training is provided to all managers and trainees every week, without exception. Every to-be property manager goes through an in-house OSH certification training program before being promoted. In addition, OSH has a head of maintenance that monitors the major equipment on each property ensuring they are well-maintained and working in order to extend their life over the maximum period.
Where it all began
OSH’s journey began nearly four decades ago when founder Harvey Vengroff recognized the need for affordable, non-subsidized housing for working families. He traveled the county and was disgusted by the living conditions and high crime of subsidized housing, and thus he made it his life’s mission to create safe, affordable, and clean housing. So Harvey initially purchased an abandoned middle school and university building and converted them into condos that were sold at below market, creating the pathway to homeownership for many working families in the area that wouldn’t otherwise be able to afford.
Since then, OSH has grown by leaps and bounds, turning a number of properties into vibrant communities, offering pathways to homeownership and stability for countless individuals and families. From converting abandoned schools and hotels to expanding into new territories, OSH’s founding principles of affordability and sustainability have guided its growth and success.
Community Engagement and Support Initiatives
Beyond providing affordable housing, OSH is deeply committed to supporting its residents and the broader community. Through its non-profit arm, One Stop Cares, the company offers a range of wraparound services, including educational, financial, and healthcare support. From food and toy drives to telehealth services and vocational training, OSH Cares actively contributes to the well-being and empowerment of residents and neighbors alike. “All three companies, OSH, OSHDC, and OSH Cares sponsor 4 families per year that have run into extremely dire circumstances and provide support through the OS Cares – Adopt a Family Program,” says Mark. “OSH Cares also provides training and development for various trades, including assisting residents to build and start their own businesses.”
By fostering a culture of giving back and community engagement, OSH embodies its values of compassion, integrity, and social responsibility.
The accolades and recognition bestowed upon OSH underscore its innovative approach and unwavering dedication to excellence. Some of the awards include the 2023 Top Business Awards from both the Sarasota Chamber and Manatee County Chamber of Commerce, the Top FL Apartment & Condominium Contractors Award, and an award from Memphis Sherriff and the City of Memphis for helping reduce crime by 80% in 90 days of acquiring new property in the area.
Road Ahead
Moving forward, OSH remains focused on addressing the evolving challenges of the affordable housing market while seizing new opportunities for growth and impact. From managing rising insurance costs to exploring innovative utility-saving strategies, the company is continuously adapting to meet the needs of its residents and stakeholders. Through strategic partnerships with municipalities, foundations, and private sector partners, OSH aims to expand its footprint and create more affordable housing opportunities for working families across new geographies.
Company Description: OSH is a for-profit organization dedicated to providing affordable workforce housing solutions tailored specifically for working families. The company has created a unique for-profit model that addresses the need to create clean, affordable, and safe workforce housing in even some of the most depressed areas. It has formed Private/Public Partnerships with multiple Cities, County, Foundations/Nonprofits, and Private companies to create communities specifically designed for working families that work in the immediate area
Pull Quote: “ “The establishment of building out the key verticals throughout the entire process of development-design/build and manage have created economies of scale and operational efficiencies not found in other companies.”
Company Name: One Stop Housing
Founding Year: 2020
Office Locations: Sarasota, FL
Official Website of the Company: www.onestophousing.com
Name of the Featured Leader: Mark Vengroff
Designation of the Leader: Managing Partner
